Naira weakens N21 against dollar on official exchange, trading at N1,562/$1

The Naira started the week on a low, losing N21 against the US dollar on the official exchange on Monday, September 23, 2024.

The local currency was trading at N1,562/$1 on the official window
to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This shows that N1,562/$1 is N21 lower than the N1,541/$1 the currency traded at the official window on the previous trading day.

The naira lost N2 against the dollar in the parallel section of the forex market and was trading at N1,665/$1 against the previous day’s exchange rate of N1,663/$1.

ALSO READ: Naira strengthens by N3, trades at N1,541/$1 on official exchanges

However, the naira weakened against the British pound by N25 and was trading at an exchange rate of N2,250/£1, the same as the previous exchange rate of N2,225/£1.

The Canadian dollar is trading at N1.280/CA$1 the same as the previous exchange rate of N1.280/CA$1.

The Naira also lost N10 against the Euro and was trading at ₦1,840/€1 compared to the previous day’s exchange rate of ₦1,830/€1.

By: Babajide Okeowo

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